In order to strengthen the communication with financial holding companies and improve the effectiveness of internal audit mechanisms, the FSC held a colloquium for chief internal auditors of 16 financial holding companies on Nov. 16, 2021.

The session topics included the introduction of “Principles for Effective Financial Examination”, the primary examination findings on senior financial consumer protection, business strategy and risk management of financial holding groups, and experience sharing on ESG integration by Cathay Financial Holdings.

During the meeting, the FSC exchanged a wide range of opinions on topics, including recent supervisory issues and critical audit matters with all participants. With two-way communication, it allowed financial institutions to gain a better understanding about the supervisory concerns and the examination focuses.